FIIs bought 38,00,000 shares of this multibagger micro-cap stock with 20,000 per cent returns – scrip hit upper circuit & 52-week high!
The shares of the company have a PE of 5x whereas the sectoral PE is 22.5x with an ROE of 85.9 per cent & an ROCE of 83.8 per cent.
Indian markets surged on Wednesday for the third straight day, with the BSE Sensex Index rising 0.52 per cent to 69,653.73 and the NSE Nifty-50 Index rising 0.40 per cent to 20,937.70. On BSE, a total of 3,895 stocks traded from which 1,877 stocks gained while 1,887 declined and 131 remained unchanged.
Amidst the bullish market sentiment, Hazoor Multi Projects Ltd.’s shares witnessed a 5 per cent jump, reaching a new 52-week high of Rs 233.95 per share. This marks the continuation of the stock's recent upward trend, characterized by consecutive upper circuits and 52-week highs.
The company’s stock soared because FIIs bought 38,00,000 shares of this multibagger micro-cap stock via preferential issue of shares (warrants) at Rs 178 per share. The total preferential allotment was 55,00,000 Equity Shares of the face value of Rs 10 payable in cash aggregating amount of up to Rs 97,90,00,000.
- Amicorp Capital (Mauritius) Limited was allotted 20,00,000.
- Vespera Fund Limited was allotted 5,50,000.
- Aries Opportunities Fund Limited was allotted 5,00,000.
- Elara India Opportunities Fund was allotted 5,00,000.
- Kiftar IN LLC was allotted 2,50,000.
Along with the above FIIs, the rest of the allotment i.e., 17,00,00,000 warrants were allocated to body corporates and individuals.
Order Update: The company informed that its subsidiary, Hazoor Infra Projects Pvt Ltd received an order from Arawali Kante Multi Projects Pvt Ltd and was authorized by The Ministry of Road Transport & Highways for rehabilitation and up-gradation four lanes in the State of Maharashtra under NHDP-IV on Hybrid Annuity mode in Ratnagiri district. The projected value of the project is Rs 1,129.81 crore. The majority of the project value (Rs 523.45 crore) will come from annuities. The next largest source of funding will be interest on annuities (Rs 463.16 crore). The remaining Rs 143.20 crore will come from O&M costs.
Incorporated in 1992, Hazoor Multi Projects Limited is engaged in the business of Infrastructure and Real Estate. According to the financials, Hazoor Multi Projects has a market cap of Rs 321.8 crore with a 3-year CAGR of 337 per cent. The company reported positive numbers in its Quarterly Results and annual results. The net sales increased by 589.34 per cent and the net profit skyrocketed by 1,735.68 per cent in FY23 over FY22. Hazzomnr
The shares of the company have a PE of 5x whereas the sectoral PE is 22.5x with an ROE of 85.9 per cent & an ROCE of 83.8 per cent. The stock gave multibagger returns of 195 per cent in just 1 year, 9,530 per cent in 3 years and a whopping 20,000 per cent returns in 5 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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